A source close to the negotiations today told MMAjunkie.com (www.mmajunkie.com) that verbal agreements are in place for the fight.

UFC 130 takes place May 28 at the MGM Grand Garden Arena in Las Vegas. The night’s main card airs on pay-per-view.

Barao vs. Escovedo likely will be part of the preliminary card.

Barao had been scheduled to fight Demetrious Johnson at the Memorial Day weekend event, but “Mighty Mouse” was pulled from the fight and pitted against Miguel Torres, who lost original opponent Brad Pickett to an injury earlier this week, on the same card.

WEC vet Barao comes to the octagon on the strength of a virtually unblemished professional career in six years of competition. The Brazilian graduated from the lighter-weighted sibling of the UFC following back-to-back WEC wins over Anthony Leone and Chris Cariaso. He now has posted 25 straight wins since an unsuccessful pro debut in 2005.

Escovedo, a former WEC featherweight champ, makes his UFC debut on the heels of a 6-2 run. The former IFL, Strikeforce and DREAM fighter recently rebounded from back-to-back losses to Michael McDonald and Michihiro Omigawa with a first-round submission win over Steven Siler at a January regional event in Utah. Sixteen of his 17 pro wins now have come via stoppage.